Shareholders are considering filing a lawsuit against J. Crew's board, which plans to take the company private and signed an agreement with a private equity fund to buy out all shares. The shareholders and their lawyers say that the board may have breached its fiduciary duty to them, either by failing to negotiate a high enough share price for the buy-out or by not seeking enough offers. Under the terms of J. Crew's agreement with the private equity fund, the company has until January to find a better offer than $43.50/share. [WWD]

This is funny. PETA coordinated its operatives to post repeatedly on DKNY's Facebook page, and their profile pictures spelled out "DKNY BUNNY BUTCHER" down the page. In response, the brand has shut down commenting on its page. Lame. [Buzzfeed]

Hilary "I Have Two Oscars" Swank is said to be developing a fashion-themed game show for the CW. [Vulture]

Jill "I Am A Real Housewife" Zarin is launching a line of "shapewear" called Sqweez Couture. [WWD]

For a closer look at Kerr's pregnant stomach, nude and clothed, in profile and three-quarter profile, check out her spread in Vogue Australia. [Fashionologie]

Today only, in honor of World AIDS Day, you too can bid on a customized Bugaboo pram "designed" by Gwen Stefani! It features Vachetta leather trim and an exterior made from fabric printed with Stefani's L.A.M.B. brand name. All of the proceeds go to charity. [eBay]

Frédéric Fekkai was named a Chevalier de l'Ordre National du Mérite. [P6]

This is major: Sasha Pivovarova, who had an unprecedented eight-season run as Miuccia's Chosen One, could be returning to the Prada fold, as a face of Miu Miu. Of course, we already know what the Prada main line's spring ads will look like. [TFS]

Model Irina Shayk's agency is suing Spanish GQ for allegedly removing Shayk's underwear in post-production, and then running the resulting "nude" shots. GQ has released a statement denying that it used any kind of Photoshop to denude the model, and claiming that Shayk posed nude willingly (and in front of 15 witnesses, no less). [HuffPo]

Blackbook has apparently been running an entertaining and insightful column written by a very well-read model, the Canadian Dana Drori. And somehow we missed this gem until now! Today, she talks about what it feels like to be complicit in your own objectification for a living. [Blackbook]

American Apparel has some new ads that feature no models — only line drawings of the models from some of their old ads. That's one way to save money, and co-opt one of your most famous parodists, we suppose. [Copyranter]

Hermès watchers say that it might take Louis Vuitton Moët Hennessy years to gain a controlling stake in the largely family-owned business — but that the luxury conglomerate will probably get there eventually, as the ownership is diluted among further generations of descendants, some of whom will no doubt feel like cashing in. [WWD]

Gap has integrated everybody's favorite creepy real-time location-tracking service, Foursquare, into its latest ad campaign. "Adding" Gap on Foursquare gives you a 30% discount, which is apparently the price of privacy. [AdRants]